European Bank for Reconstruction and Development signed an agreement on allocating USD12.5 loan package to ACBA-CREDIT AGRICOLE BANK today.

USD9mln will be allocated to micro-, small and medium enterprise lending and USD3.5mln - funding energy efficiency programs.

"It's the first loan issued to ACBA-CREDIT AGRICOLE BANK within Caucasus Energy Efficiency Programme (CEEP). The three-year funding program is aimed at energy efficiency funding which will have a positive impact on energy efficiency in the country and preservation of environment", noted head of Yerevan Office of EBRD Mark Davis.

Deputy CEO of ACBA-CREDIT AGRICOLE BANK Nikolay Hovhannisyan said that the mentioned USD3.5mln will be distributed within a year mainly among the companies which operation will benefit energy efficiency in Armenia.

"The lending programs will be implemented in near future, the loans will be issued in AMD across whole Armenia and I think the interest rate will be lower than the market prices", said Nikolay Hovhannisyan.